
Novato, CA 94945
This Single Family Residence presents a Prime Investment Opportunity with a List Price of $729,000—positioned well below the $746,074 Fair Market Value by 2%. This valuation gap offers $17,074 in Instant Equity. Featuring a Condition Rating of 3, the home includes significant infrastructure upgrades and a large lot with ADU potential. Its Old Town location provides exceptional walkability to downtown amenities. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1137 2nd Street Subject | $729,000* List Price | 2 | 1 | 859 | $869 | - |
A 807 Reichert Avenue Sold | $875,000 | 2 | 2 | 1,062 | $824 | 0.7 mi |
B 719 Cherry Street Pending | $719,000 List Price | 3 | 1 | 1,050 | $685 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1949, the property is well-maintained and move-in ready with significant system upgrades including a newer roof, furnace, water heater, and sewer lateral. The interior features fresh paint, new Berber carpet, and refinished hardwoods. Although the kitchen cabinetry and appliances appear dated, the overall maintenance and recent functional improvements elevate it above the Fair category.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7501, living area = 859.
Situated in the heart of Old Town Novato, the property boasts an exceptional walkability score, located just blocks from Grant Avenue's dining, Trader Joe's, and local amenities.
The oversized 7,501 square foot lot offers significant flexibility for the new owner to expand the existing footprint or explore adding an Accessory Dwelling Unit (ADU) for rental income or multi-generational living.
At only 859 square feet with a 2-bedroom, 1-bathroom configuration, the home's compact size may be a constraint for growing families or those requiring more living volume.
The detached structure is noted as needing work, which represents an additional project and financial investment for the buyer to make the space fully functional.
Charming Old Town Novato bungalow with classic curb appeal, a white picket fence, and an unbeatable location just blocks from downtown conveniences. Set on a spacious 7,500 square foot lot, this sweet one-story home offers both character and thoughtful updates. The house lives larger than its stated square footage thanks to extra spaces that provide valuable flexibility for work, hobbies, storage, and everyday living. A welcoming front porch creates the perfect spot for morning coffee, while the freshly landscaped front yard features new sod, automatic irrigation, and a newly poured concrete driveway leading to the attached one-car garage. Inside, the home feels warm and inviting with fresh paint, beautiful real hardwood floors, and new Berber-style carpet in the bedrooms. Other upgrades include newer roof, furnace, water heater and sewer lateral. The thoughtful floor plan includes a bright living area and an eat-in kitchen. An enclosed porch expands the possibilities, offering a flexible area for spreading out. The generous backyard is filled with opportunity. A detached structure (in need of work) includes a finished room, plus two additional workshop/storage spaces. With the large lot size, there may also be exciting potential to expand the home or explore adding an ADU. Located in the heart of Old Town Novato, everyday favorites are right outside your door. Trader Joe's and Starbucks are just three blocks to the east, while Grant Avenue's beloved shops, restaurants and community events are only two blocks south. Easy commute location just 5 minutes to Highway 101.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 859 | - |
| Lot Size | 7,501 | - |
| Price | $729.0K | $1.30M |
| Price per sq ft | $849 | $630 |
| Built year | 1949 | 0 |
| HOA | $0 | $0 |
| Days on market | 15 | 37 |
Jul 7, 2026
$729,000
Initial Listing